4 Things You Need To Sort Before Starting Your Graphic Design Business
by PM Today / 5/16/2019 3:16:29 PM
What with the advancements in computer software, and the internet which allows so many us of to work remotely, it is hardly surprising that there are so many graphic designers going freelance or starting up their own businesses and agencies. Of course, to be successful, it's vital that you begin your business in the right way. A topic you can find out more about it the post below.
Before you can start up your own graphic design business, you need to have your portfolio in order. After all, that is the thing that will get you work. In fact, as many in the industry already suggest, if you are going it alone rather than taking a salaried post in an agency, your portfolio is much more important than even your education and qualifications.
Of course, the reason for this is that your portfolio shows potential clients exactly what your skill level, style, and specialism is, as well as helps them to apply what you are doing to the needs of their own company. To that end, it's crucial that you have a carefully selected arrangement of your best work. Not all your work, mind you, but just the cream of the crop!
Next, to ensure your portfolio is as effective as possible, it's crucial that you know the type of demographic that you are looking to appeal to. What that means is that you need to define whether you will be aiming at small business clients, or large multinational companies, as well as what your specialism will be, e.g. logos. It even sometimes it can help to work out any niche areas that you are well matched to, for example, restaurants and those working in the food industry.
In fact, if you haven't got any examples from the type of clients you are looking to attract; it can even be smart to create samples of what you would do for those types of clients. Something that can make your work much more marketable.
Money, we creatives don't like to talk about it, but it is the bottom line at the end of the day. What this means is that it's pretty important you know what rates to charge your clients, as well as provide them with an easy and convenient way to pay you for your work. After all, spending your time chasing invoices rather than designing isn't what you want to be doing.
When it comes to the rate you will charge, it's particularly important that you get away from charging by the hour. This is because by using this system, you are encouraged to take as long as possible on any given project. Something that isn't necessarily an efficient use of your time can make it hard to expand your revenue streams, and when they think about it probably isn't what your customer wants either.
Instead, the key here is to move to value-based pricing, meaning you charge in line with what the work you are doing is worth to your client. What this means is if they are running a campaign that is expected to bring in $100,000, asking for 5% of that for the visual branding, asset creation, and marketing strategy is actually excellent value. It also ensures that you can take on as many projects as possible and maximize your business income and so its success.
When starting a business, it's also wise to note that there are many different options for payment to consider. In fact, the more options you provide, the more clients you are likely to attract because you are making it as easy for them as possible to go forward with the process.
Of course, some clients will still require you to issue them with an invoice, and if this is the case, be sure to use short payment terms to ensure constant cash flow. However, with such a boom in freelancing with the gig economy, offering easy, and instant ways of paying, especially at the point of sale can make a massive difference to your turnover too.
Finally, when it comes to starting a graphic design business, you will absolutely need a fabulous website that makes you look as professional as possible, and will show your work in the best light. Oh, and it's got to be easy to use and navigate as well, as keeping your customers sweet really is one of the most important rules of success.
To that end, it is often worth investing in a custom built site, if you want to optimize the success of your graphic design business. (Something that you probably won't find too tricky if UI or UX are your specialisms!)